• Seeking Securityholder approval for up to 25% buyback of Stapled Securities
• Achieved $151 million US-dollars in asset sales in 2024, targeting $200-225 million in 2025
• Transitioning US tax structure to enhance ability to execute strategy and maximize returns

US Masters Residential Property Fund (URF) is holding a general meeting to seek Securityholder approval to buy back up to 25% of its Stapled Securities over the 12 months following 4 April 2025. As of 4 March 2025, there were 690,882,004 Stapled Securities on issue, so the maximum number that could be bought back is 172,720,501. The Responsible Entity believes an on-market buyback is an effective way to return surplus capital to Securityholders and maintain an efficient capital structure. Operationally, the Group's 2024 financial results showed steady G&A expenses, a 14% increase in Net Operating Income, and a decrease in the fair value of the portfolio by 2.35%. The Group achieved $151 million US-dollars in asset sales in 2024, nearly triple the prior year, and has set an increased target of $200-225 million US-dollars for 2025. This progress positions the Group well for the year ahead, with $198.4 million US-dollars in the sales pipeline as of 1 April 2025. The Group has also completed a review of its US tax structure, reclassifying the US Vehicle from a REIT to a Corporate (C-Corp) structure, which enhances the Group's ability to execute its strategy and maximize returns for investors. The Board intends to allocate sales proceeds towards distributions, security buybacks, and potential repayment of the Global Atlantic senior debt facility.

The Group remains focused on accelerating asset sales, with a target of $200-225 million US-dollars in 2025. Proceeds from sales will be allocated towards distributions, security buybacks, and potential repayment of the Global Atlantic senior debt facility.